In a holding pattern

It's going to get worse now that sanctions have been lifted on Iran. Their leaders say they don't care if it gets to $1.00 a barrel as long as Saudi Arabia suffers. The Saudi Royal Family has been taunting the Iranians like teasing a pit bull that's locked inside a cage, but now someone opened the cage door.

 

that's kinda what i was trying to get at. the only shining factor that may keep it somewhat stable over the next few months is iran is having a hard time finding buyers due to banking payment issues, tanker insurance issues and a few other factors. (can't find the link to the story but it's late, i'll search again tom after some sleep if ya'll want.) so, the bulk of their oil may not be dropping till late 3rd quarter. but once it does, holy cow, it's going to drop.

 

Its really a double edged sword. As somebody dependent on the oil and gas industry thriving high oil prices are a good thing for the local economy, ideally we will find the balance... soon.

 

I dunno. I'm getting my box truck all set up, when production ramps back up I'll go do mobile repair. Most likely in the Utica region.

 

Oilfield winch/heavy haul is pretty slow around here right now, but at least with my service truck I am making up the difference filling in as a field mechanic-keeps me in beer and potato chips!

 

We still ain't doing so good up in Alberta either. We just cut our fleet in half to save costs and we're double shifting the remaining ones. Not too happy about it but at least my cross shift isn't a pig.

 

After 20 months on the same Chevron gig, they unceremoniously cut me loose for a cheaper mom and pop. No thanks, no hat, no #### you. My yard is still fairly busy and my new 4/1 schedule should actually increase my take home for now, but everything is so tenuous that one screw up could cost us the work we have. I'm still hoping to hang in here until June.

 

Chevron and Devon dumping assets in the Permian bud......Chevron been rumored to be ready to cut 50% of company guys anytime. Devon dumped 750 recently .

I'm sure it's nothing personal, just a straight business decision to knock that cost down. Like you, I'm on pins and needles....day by day. One hiccup and I'll be out with the trash. Hang on.....

 

I'm about to head back to the oil field from being OTR, The company I was with out of Odessa and S.E. New Mexico called me to see if I would come back. So, I'm taking the chance from what they are saying it's still busy in the New Mexico area.